For the first time, Vietnam's share of world footwear exports has surpassed 10 per cent with 1.23 billion pairs of shoes exported in 2020, according to data by World Footwear Yearbook 2021.
Specifically, Vietnam ranks second in the world in terms of footwear exports. With this result, for the first time, Vietnam is now responsible for 10 per cent of world exports, an increase of 4.4 times compared to 2011.
Notably, Vietnam became the largest exporter of canvas shoes in terms of value, surpassing China. This is the first time since the publication of the World Footwear Yearbook that China does not take the lead in an export category.
A series of world-famous footwear brands such as Nike, Adidas, Reebok, and Puma have all been outsourced and produced in Vietnam in large quantities.
Vietnam has exported footwear products to more than 150 markets around the world with key markets in the US, EU, China, Japan, the UK, and others.
According to statistics from the General Department of Customs, Vietnam's footwear export turnover in the third quarter of 2021 reached $2.92 trillion, down 47.7 per cent compared to the second quarter of 2021 and down 26.9 per cent over the same period last year. The decline is attributable to the temporary factory closures to contain the largest outbreak in the southern provinces.
However, due to the high increase in footwear exports in the first months of the year, in the first nine months of 2021, Vietnam's total export turnover of footwear products reached $13.31 billion, up 9.7 per cent on-year.
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Source: Vietnam Investment Review